Corazon Mining Assays Confirm Fraser Lake Complex Mineralisation
THE DRILL SERGEANT: Corazon Mining (ASX: CZN) released initial assay results from its recent Phase 1 drilling program conducted at the Fraser Lake Complex (FLC), located within the company’s Lynn Lake nickel-copper-cobalt project in Canada.
Corazon Mining said the results it has received to date confirm the intersection of Lynn Lake Mine tenor grade nickel-copper-cobalt mineralisation.
The company said the results support its view that the large mineralised magmatic sulphide system, identified by drilling to date at the FLC, has the capacity to host nickel-copper-cobalt deposits like those which supported mining for decades at the nearby Lynn Lake Mining Centre.
Corazon is focusing on a large induced polarization (IP) chargeable geophysical anomaly (the Matrix Trend) with a defined strike of 600 metres and potential strike of more than 1.5 kilometres.
Initial results of selectively sampled semi-massive to massive zone intersection the company reported in February have identified two discrete intersections of:
1.36 metres at 1.8 per cent nickel equivalent (NiEq) (0.92% nickel, 0.89% copper and 0.07% cobalt); and
1.31m at 1.85 per cent NiEq (1.05% nickel, 0.67% copper and 0.08% cobalt).
Corazon noted the cobalt grades to be nearly double those historically reported at Lynn Lake.
“The company believes the potential exists to identify zones of higher grade mineralisation in the FLC, particularly massive sulphide mineralisation (50% to 100% sulphide content), which will deliver very strong nickel, copper and cobalt results,” Corazon Mining said in its ASX announcement.
“Point Values taken with a hand-held XRF, from the small massive zones and strong sulphide aggregates, returned grades on average between 3 per cent and 4 per cent nickel.
“Cobalt grades returned in the Phase 1 drilling were almost double the grade for corresponding nickel grade rocks within the historical Lynn Lake Mining Centre.
“The company interprets this mineralisation to be a small finger off a larger sulphide body.
“The higher cobalt content supports that the mineralisation is late stage and possibly higher up in the magmatic system.”
Corazon has already commenced the next phase of drilling at the FLC, with the first hole in this program (FLC-2017-008) completed, targeting a strong electromagnetic conductor generated from a recent down-hole electromagnetic survey (DHEM) of hole FLC- 2017-002, some 120m to the southwest.
In conjunction with holes FLC-2017-002 and -003, Corazon’s initial interpretation of hole FLC-2017-008, has identified more than 400m strike of sulphide mineralisation within the Matrix Trend, a zone measuring plus-600m by 120m and open.
“Exploration of the FLC is at an early stage, and the project continues to appreciate in value and deliver impressive results,” Corazon said.
“The discovery of the Matrix Trend is an exciting development and, importantly, represents just one of many priority targets within the intrusion.
“The first three holes into this zone have provided an enormous amount of information that is being fed back into the exploration targeting process.”
Email: info@corazon.com.au
Website: www.corazon.com.au